Stop fixating over Dow 20,000!
"If you're thinking about a record, you have to take these equity market numbers and base them to something," said Steve Blitz, an economist and Real Money contributor. He pointed to real estate as an example, and the importance of taking a home's value today and comparing it to its worth in past decades' dollars.
Dow 20,000 "is an arbitrary level. We are still not anywhere near, by any type of normalized metric, the highs of 1999 to 2000 when we had the dot com boom at its fullest. And that's a good thing," he added.